With equities breaking new cycle highs (sp'2111), the VIX was still on the slide, settling -4.5% @ 13.27 (intra low 12.90). Near term outlook offers an equity wave lower, which should equate to VIX 15/16s. Broadly, VIX looks set to remain subdued into early August.
*closing hour price action in both the VIX and equities was a likely hint of 'Wednesday trouble'.
A move higher to the gap zone in the 15/16s looks probable for Wed/Thursday.
The big VIX 20 threshold looks out of range in the near term.. and probably until the latter half of August.
more later... on the indexes